Finance
STANDARD OPERATING PROCEDURE FOR STORES
There is a need to have a uniform procedure for the stores function so that optimum action is taken for a timely purchase at the best possible cost. In order to streamline stores function, there is a need for a uniform procedure. This SOP covers interalia, the entire subject of stores procurement, storage and preservation, issues on accounting management, stock verification, safety and security of stores. Suggestions for improvements in the procedures laid out on the basis of use and experience may be submitted for possible incorporation in the next revision. Any suggestions for changes, which may be desirable on priority, will be acted upon immediately.
CONTENTS
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PARAGRAPH NO.
INTRODUCTION DEFINITION
SUBJECT
1.0 INTRODUCTION The scientific management of Storehouse is an essential part of the Organization’s operations. The stores management function assumes special significance in Construction Industry where identity of the materials, then handling, proper storage and accuracy in accounting during issue are of paramount importance in the efficient operation of the Store House. 1.1. The task of stores management relates to safe custody and preservation of the materials stocked and their receipt, issue and accounting. The objective is to efficiently and economically provide the right material at the time when it is required and in the serviceable condition in which it is required. 1.2. Efficiency in the store starts with precise forecasting and planning of the necessity for materials, and this presupposes that the need itself has been forecast with a considerable degree of accuracy. The forecast also must be subjected to periodic review. The art of stores management is largely that of optimizing the use of resources to meet actual needs in an efficient manner. 1.3. The relative function of the stores
There is a need to have a uniform procedure for the stores function so that optimum action is taken for a timely purchase at the best possible cost. In order to streamline stores function, there is a need for a uniform procedure. This SOP covers interalia, the entire subject of stores procurement, storage and preservation, issues on accounting management, stock verification, safety and security of stores. Suggestions for improvements in the procedures laid out on the basis of use and experience may be submitted for possible incorporation in the next revision. Any suggestions for changes, which may be desirable on priority, will be acted upon immediately.
CONTENTS
1 .0 2 .0 3 .0 4 .0 5 .0 6 .0 7 .0 8 .0 9 .0 1 0 .0 1 1 .0 1 2 .0 1 3 .0 1 4 .0 1 5 .0 1 6 .0 1 7 .0 1 8 .0
PARAGRAPH NO.
INTRODUCTION DEFINITION
SUBJECT
1.0 INTRODUCTION The scientific management of Storehouse is an essential part of the Organization’s operations. The stores management function assumes special significance in Construction Industry where identity of the materials, then handling, proper storage and accuracy in accounting during issue are of paramount importance in the efficient operation of the Store House. 1.1. The task of stores management relates to safe custody and preservation of the materials stocked and their receipt, issue and accounting. The objective is to efficiently and economically provide the right material at the time when it is required and in the serviceable condition in which it is required. 1.2. Efficiency in the store starts with precise forecasting and planning of the necessity for materials, and this presupposes that the need itself has been forecast with a considerable degree of accuracy. The forecast also must be subjected to periodic review. The art of stores management is largely that of optimizing the use of resources to meet actual needs in an efficient manner. 1.3. The relative function of the stores